Is it just me, or do other people think, as I do, that capitalism just isn't working ? Countries appear to owe astronomical sums of money and suddenly can't afford to pay even the interest on these debts, and some look like having to default. What a bloody silly system ! We've put up with it for years because, by and large, governments have somehow managed to pay the interest, but now they can't. So who do they owe the money to ? Nobody ever seems to ask this question. I assume it is mainly to banks, or possibly other governments, as these are the only organisations that have this sort of money. So why not nationalise the banks ? Then we'd end up owing the money to ourselves and nobody would give a damn !
OK I know it's not that simple, but it ought to be ! Maybe some "experts" should sit down and rethink the whole world financial system, because if the don't come up with an alternative, things will get worse. The "Third World" is rapidly catching up with the west in terms of economic success, and in a few years may well go straight past us. And don't expect them to help or care very much as we didn't care about them living in poverty all these years.
I don't know what the solution is - do away with interest perhaps, or put a cap on it. Some buggers are making huge amount of money out of the US and European debts - who are they ? Let's find out and stop it. Then we can all borrow a little without worrying about how we can pay it back.
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